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some of the issues the united states has long pushed. geithner recognizes china has moved towards a more market based exchange rate, but he does know that the yuan has more room to strengthen against the u.s. dollar and other currencies. he says a firmer yuan will give beijing more flexibility when it comes to balancing growth and inflation. take a look at the u.s. dollar versus the yuan, pretty much unchanged. hillary clinton touched on a host of diplomatic issues urging china to play its part when it comes to diffusing global tensions particularly with north korea and iran. clinton addressed prickly human rights issues which have taken center stage following the news surrounding dissident chen guangcheng. >> as part of our dialogue, the united states raises the importance of human rights and fundamental premiefreedoms. because we believe that all governments do have to answer to citizens aspirations for dignity and the rule of law and that no nation can or should deny those rights. >> and our very own emily chan has been following these developments and she's standing by in beij
&t network -- doing more with data to help business do more for customers. ♪ >>> why the united states, sisco could weigh on the tech sector. the company issuing a grim outlook saying customers are being cautious on i.t. spending. >> spain taking a stake in the fourth biggest lender. >> surprisingly weak trade pigs call china's growth recovery into question. fouling imports in april hint at waning domestic ghant. >> welcome to "worldwide exchange." let's take a look at u.s. futures. see how we're lookinged a trade. we were looking at a higher hope and we have reverse direction at this point. the dow looking lower by 17, nasdaq by 5 and the s&p 500 slightly over the plot line. this after stocks ended lower again on eurozone fears yesterday, but we did pair steep early morning losses. we also saw volume picking up a little yesterday. dow lost 97 after being down as much as 183 during the morning session. falling for the sixth straight day that we've seen it for the first time since august. also the yield nearing 1.8%, a three month low for that yield right now. >> we tried to rally off the four
sheet is looking strong. >>> and in the united states, who's hieshing in the private sector. investors are hoping indy p's data will a's concerns about friday's job report. >>> hello and welcome to "worldwide exchange." i'm steve cedric joined by chloe cho. the final figure falling to 45.9. the flash estimate came in at 46. the march figure was 47.7. this is the lowest figure we've han since june 2009. the output index. 46.4. march data came in at 46.7. employment index again dispiemting. 47.6% as opposed to a march figure of 48.7%, but i'm afraid this was the lowest figure since february 2010. all right. let's get some analysis on this. ricardo bausrbiari and our chie host. the pmis out of china have been encouraging. they've been encouraging the market to go on the front foot. is this going to send risk investors running for cover again? >> i don't think this should come as a surprise because we already had flash estimates for europe suggesting that manufacturing at tbt contracted in april. i think the surprise was the u.s. numbers which came in better than expected. there's bln surp
as he continues to seek asylum in the united states. foreign ministry today in response says chen can apply to study an abroad, he can apply through normal channels to the relevant departments in accordance with law, you but of course he is currently being treated in hospital. >> thank you so much for that. emily, stay right will because we'd like you to take part in this will discussion, we have jacob finch joining us. jacob, emily was taking us through the key headline stories coming out of the sned. given the saga involving the dissident, have we been tempering our expectations some the past week, we've been seeing pretty solid headlines coming out from china, they've been rolling out pro market measures, they're talking about ways to get some of the state owned enterprises to hand back some of their profits back to the state. it looks like things are progressing a lot better than expected. >> this is a particularly complicated moment in u.s./china relations. and this is a particular moment in which the world is facing a unique set of challenges. so the stakes are significant. but
here in the united states, but about some ways we're treading water. how is it in europe? >> ahead of the u.s. open we're weighted to the down side. 8:2 on the stoxx 600. xetra dax closed for glitches this morning. wasn't showing prices. now down 2%. ibex down around two-thirds. maybe the sort of reactions we might have expected this time yesterday that we didn't get. we have heard from a number of companies reporting. hsbc beat expectations in the first quarter, have an underlying profit of almost $7 billion. europe's biggest bank boosted by rebound in investment banking income, as well as a fall in bad debt in the the united states. it's trying to ensure investors it has made good progress on all areas of its strategy including cost savings. >> meantime who are began stanley says it will have to cough up an extra $7.2 billion in collateral if moody's cuts the bank's credit rating. in february, moody's put morgan stanley and other u.s. banks on review for a possible downgrade citing issues in their capital markets business. could be cut as much as three mo notches. could hurt thei
from the united states every year. it's been a very important relationship over the years. how is that going to evolve. >> i believe our relations with the united states haves to sustained and strengthened. it is not in our interests to have a shaky relations shhip wi the united states. i believe it is the same from the american side. so this is not the time to talk about the relations negatively. >> european union is the largest trade partner, a principal source of fdi. now you've tableded the concept of a virtual relationship or membership. what does that entail? >> what i need is your help in how to build an administration. a new framework of economy, framework of several things that have proved to be so useful in the case of turkey and other countries that have requested membership and did that really get it. to introduce new rules that have proven to be very effective in rebuilding a government or a government systems. >> there was moussa. remember israel as a talking point has served as a bit of a punching bag for a lot of the different candidates on the campaign trail. n
plan that puts the united states in position to grow as opposed to becoming europe because we have austerity by inaction. >> john, good to see you. thanks for joining us. >>> still to come, the latest from jpmorgan's trading loss. the state of the u.s. housing market. futures a little bit mixed this morning. look i'm going through the rapids. okay... i'll take it. sync your card with facebook, foursquare and twitter for savings. that's the membership effect of american express. >>> welcome to "worldwide exchange." if you're just joining us, these are the headlines from around the world. equity markets in europe firmly in the green as leaders battle it out over crisis fighting measures. >> and the bank industry iif has warn that had loss it is for the country's lenders could amount to 260 billion euros. >> and u.s. lawmakers putting jpmorgan under the microscope as congress gets set to grill regulators today on the bank's trading losses. >> and fitch downgrades japan's sovereign rating by one notch citing low progress in the consolidation efforts. u.s. futures all in the red. dow wo
in the united states, investors decision on whether to sell in may could be swayed by today's key ism manufacturing data. >> china factory output strengthens to a 13 month high, but misses expectations. data suggests that there is room for further stimulus. >> and new export orders post a biggest fall in six years. and bp posts a bigger than expected fall in profits despite high crude prices. >> good morning. you're watching "worldwide exchange." great to have you with us this morning. if you're just joining us, let's take a look at the u.s. futures and see how we're setting up for trade on wall street. pretty much looking at a flat open. the dow could be higher by 9, nasdaq lower by 1 and just over the flat line for the s&p 500. a slightly lower day yesterday to end the month of april, the last trading day. the dow managing to eek out a positive return for anticipate. the nasdaq and s&p negative for the month despite the fact that april is historically the third best month of the year for the major averages. >> take a look on the shot of the peripheral countries. you can see the diff
rate in the united states, any real slowdown coming out of the eurozone is going to impact us as well. >> we have pretty much a replay of what we saw last summer which is a debt ceiling debate coming up, a eurozone crisis, an earthquake that has basically pulled back auto production as of this morning so you're looking at pretty mump the same playout we had last summer and more importantly you have operation twists coming to an end which will extract liquidity from the markets. so having late built more cash, reducing risk in portfolios, it plays out well for the summer. >> people are saying nefrms we can expect policy makers especially in the u.s. to come here and do wlaes needed to support growth or prop up the market. >> sure. >> why do you think that's not going be the case? >> no, no. i do thing that's going be the case. i think it ooh going be later on in the summer. look, now, don't forget we're in an election cycle, and quantitative easing does not play well across the american public in general because as a function it raises commodity prices, food costs, energy costs which i
your eyes on that. let's get back with virginie. we were talking with scott wapner in the united states, despite what's taking place in the europe, he's 70% of global equities and 30% is on u.s. indices. he thinks it won't fall sharply this year. what do you make of that position in stocks? >> well, i think the u.s. is clearly in a better shape than our europe overall, and think this is why you should utake advantage of this air pocket we're seeing. equities are cheap compared to bonds and think, you know, one of the things that i find attractive in the u.s. is the whole manufacturing. we've talked about it here for quite a while here with the competitive of the u.s. being very strong. we have a lot of around the shared gas and the car industry. there's a lot -- all this said, let's be measured because we have with the fiscal issues and the election a little bit of potential for volatility. so, again, there's those broad brush trends but at the end of the day it comes back to the stocks and think there's definitely selected opportunity between now and june in the global equity markets.
that we're giving to viewers in the united states, ftse 100 pup 0.6%. ibex up 0.2% manufacturing activity hit the low he is level in three years. pmi index down to 35. services pmi fall to go 46.5. new orders contracting. down at 1.371% is where we stand. ten year spanish yields still below 6.3%. we also hit fresh record lows for gilt yields. currently at 1.771%. uk gdp was reviewed down. sterling further down against the dollar. euro sterling still above the 80 mark. dollar up pretty much across the board. aussie dollar weighted done by the china data. dollar-yen pretty steady. euro-dollar trading at 125.60. we did get down to 125.15. as far as commodities are concerned, they were looking at the hsbc china pmi this morning. factory growth again contracting for the seventh straight month. hsbc preliminary data dipping to 48.7. the drop mashing fresh fears of a hard landing in the world's second biggest economy, but hsbc says that's avoidable if beijing takes more aggressive easing measures. nymex ticking a little mier. spot gold this morning is weaker at 1553. but copper would have been t
the globe this morning, here in the united states, facebook hits the road. management will start pitching investors on the company's ipo with a lunch date in the big apple. >> election outcomes casting a cloud over you're pea european . hollande promises to challenge germany on austerity focus and promote growth policies. and in greece, new democracy and pasok failing on win the majority raising concerns over a greek exit from the euro. >> warren buffett is on the hunt on a big acquisition. he says he recently considered paying more than $20 billion for a potential takeover target. >> you're watching worldwi"worl exchange" with christine tan, louisa bis sbojesen and i'm jac deangelis. if the markets were to open now, the dow would be lower by nearly 120, the nasdaq by 30nd at s&p 500 by 13 and change. and it will likely due to some of the pressure that we're seeing in the european markets and the election results out of france as well as greece. >> in-deed, this is what it's all about here in europe. digesting the results both from france and greece. the run up to the french election was
in the united states, jpmorgan shocking investors with a $2 billion loss from bad bets in a rare black mark for the reputation of the bank and krcht eo jamie dimon. >> and news weighs on bank stocks. dragging equities lower across the board. elsewhere the spanish government may force lenders to set aside an extra 35 billion euros in that p country when unveils a plan to clean up the banking system. >> and china's april economic indicators disappointment sparking renewed talk of a hard landing. good morning, you're watching "worldwide exchange" about ross westgate, i'm jackie deangelis. let's a look at the u.s. futures. we were looking lower earlier in the morning. seems like we're rebounding a little bit. the dow could be down now by 37 points, the nasdaq slightly higher over the flat line and s&p down by about 3 and change after we saw stocks closing mixed on thursday. investors still cautious over the eurozone, the dow manage to go break a six day losing streak closing up nearly 20 points higher, but of course we got the news out from jpmorgan after the close, focusing on this will during
at the united states other than facebook's ipo. weekly jobless claims out at 8:30 a.m. the may philly fed survey out at 10:00. james bullard will speak at noon. and walmart reports first quarter results at 7:00 a.m. a lot of focus there given all the headlines about walmart's bribery problems. but of course for the consumer, walmart such a huge employer in the u.s. >> a bill bellwether. not a big reaction to the spanish auction this morning, but the spanish economy confirmed in recession in the first three months falling 0.3% quarter on quarter. it's further depressed spanish stocks. leading it is banco. at the same time, greeces has appointed a caretaker government that will lead the country until next month's general election. ahead of the supreme administrative court has been put in charge. >>> the news does little to dispel concerns about greece and the solvency of its banks after the ecb has confirmed it has stopped providing punding to some greek banks. joining us is david bloom at hsbc. >> thank you very much. >> david, welcome. your initial thoughts given the headlines from the ecb yeste
to the united states a little bit later. ftse 100 down, the dax, we had gains with that amount yesterday, cac down 1%, ibex down 1.6%. and now even retail is down. very weak retail sales numbers out of the uk, i'll detail that in a second. but basic resources down 3.5%, bank down, as well, world bank downgrading china growth from 8.4% to 8.2%. as far as the bond markets are concerned, we're just starting to see yields back up in the peripheral. italian ten-year still below 6%, 6.12% for spain. we've got this zero coupon 5 billion two-year coming out in germany in just a second. the yields just falling back 1.44%, but still below the record 1.39%, ten-year are on the move again today, getting back toward the record low 1.1%. voted 8 to 1 to keep easing program. and a big falloff in retail sales this morning, as well. much weaker than expected. the april weather hindering clothing sales, as well. all of that has dragged sterling down this morning. euro sterling still above 80 as you'll see. but sterling below 127 for the first time since the beginning of march. aussie/dollar .9736, dollar/yen 7
to the other. it's much more than in the united states. i wrote a brooke called the end of cheap china and it tracks female consumers. they're still spending a lot of money. >> we're hearing from companies their biggest issue is retaining staff, hiring new staff, but the money they're paying for the general population, savings rates are so high in china, i'm wondering if you're seeing them consume rather than save. >> take a look at people that say the overall savings rate is about 40%. that's kind of a high schoolish way of analyzing the market. when you look at older generations, they're saving about 50%, 60% because they're very concerned about being able to pay for medical car costs. the government is implementing better social security benefits that the older generation will never spend. they lost out on the great economic boom of the last 30 years. but this is why roubini and others need to go deeper into savings rates. consumers under the age of 28, effective savings rate of zero. younger consumers are spending. i interviewed a girl who is 26, she makes $250 a month selling shir
. and let's remind you what's on the agenda in the united states. the may adp unemployment report out. forecast to call for an increase of 150,000 in private sector payrolls. weekly jobless claims due at 8:30 a.m., expected to remain unchanged. also growth expected to be revised down from 2.2 to 1.9%. at 10:00, the may chicago pmi is out. cleveland fed president speaks at an nab conference 8:00 a.m. eastern. and u.s. retailers reporting may same store sales despite any boost for more's day. total sales forecast to rise just 2%. in here, great food demands a great presentation. so at&t showed corporate caterers how to better collaborate by using a mobile solution, in a whole new way. using real-time photo sharing abilities, they can create and maintain high standards, from kitchen to table. this technology allows us to collaborate with our drivers to make a better experience for our customers. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ >>> if you're just joining us, these are your headlines. markets end the month in dramatic fas
're handed over to the united states from europe. ftse 100 down 1.about 8. ibex down 3%. basic resources are the weaker sector today, along with banks as we continue to see more numbers coming out of banks in terms of the extra capital they need to do for those provision has they need to put aside now for extra banking losses. and of course we're very focused on bond yields as a result. let's show you where we currently stand. fresh record lows this morning. now look at this, 1.455%. dropped another five basis points. italian yields getting back towards 6%. we're waiting for italy's auction. the key one would be the three year benchmark. but it's the first auction in the peripherals since the french and greek auctions. and spanish yields sharply higher, as well. high yields in both 12 and 18 month t-bill suction that we au. the key point is spreads. euro era high. >> let's take a look now at what's going on in this week's agenda in the united states. quiet on the data front today, but groupon this report results after it the close. investors will get reports on retail sales, consumer pri
all in the united states, the point is there's one government. >> is that where we're heading towards one government? >> i can't imagine the french letting themselves be run by somebody else. >> the policy in the u.s. is very different. it's geared toward weakest link and policy this europe is geared toward the strongest link. >> the biggest. >> well have more coming up in it a little bit. >> european equities heading to worse fall in months. here are some thoughts from our previous guests. >> if he were to go long on any of the emerging market currencies, you have to have very deep pockets in order to run help long enough to actually seeefits over the longer term. >> underlying european story doesn't change all that terribly much. we've had this credit bubble in europe and this ongoing discussion of who will wear the losses. >> what we've seen the last few weeks, it's margin calls which trigger gains which is good. with that we start seeing gold 1%, 2%, it's one signal the market is ready. >>> so united stateses of europe or the end of the european union? join the conversation. let u
to that news. >> meanwhile let's give and you look at what's coming up today in the united states. april retail sales, cpi due out at 8:30 eastern. consumer prices forecast to remain unchanged last month. but rise 0.2% when you strip out food and energy. at 10:00, home builder sentiment as well as march business inventories. and on the earnings, look for results from home depot, tjx and saks before the opening bell. >> and we're green today. we were red for the last several trading days. but today dow jones would be opening about 55 points higher, the nasdaq same hinthing, up ab 14. of course this follows an ugly day in the markets in u.s. and especially across europe yesterday. we're barely down for the day on the global 300. investors look below the surface as michael brown indicated, that german gdp growth led by exports may not be sustainable. >> very good point michael made. nevertheless, the fact of the growth number out of germany means that we have tried to pull back some of those heavy losses from credit. it this is where we stand. we have come back from the earlier gains. ftse 100 jus
doing it? >> no, i'll take that one. thanks. i hope you had a good memorial holiday in the united states. this is what we'll hand over to you from europe. ftse 100, cac 40 up four points yesterday. but the focus has really been on spain. currently down 1.4% at the moment, down 2% yesterday, down now 8% for the month of may. and it would be the fifth month in a row that we've seen falls for the spanish stock market. and currently at nine year lows on the ibex. a couple other stocks in focus, a baker up 6%, the government has revised rules on hot cooked take away foot. delarue stock actually down 1.5%, but if there was any new drachma, people think delarue would be the company involved. they're making it possible for the british government and more confidence of that in 2012 and opera up 17%, this is the stock the people believe facebook may be interested in buying. a leading investor saying we should stay independent and not sell us out to facebook. take a look at the yields. if you weren't watching yesterday, we hit 6.53% on the spanish ten year. the highest since november and the spread
Search Results 0 to 20 of about 21